Author: omc_admin
Klaipėda Port is moving toward its goal of becoming the first in Lithuania and the Baltic States to produce and supply green hydrogen for vessels, various types of port equipment, and private transportation. Construction works will begin soon – a construction permit has been received. “Klaipėda Port has set an ambitious goal – to become the first in Lithuania and the Baltic region operating a green hydrogen production station. Being the first means stepping into uncharted territory. That is not always easy, but it is undoubtedly worth it. By choosing the green path, Klaipėda Port demonstrates its commitment to the…
A turbulent week for global energy markets saw oil prices slide amid OPEC+ uncertainty and escalating U.S.-China tensions.The double whammy of OPEC+’s unpredictability and Donald Trump’s heated rhetoric over China ‘totally violating its agreement’ with the US put oil prices under renewed pressure, sending ICE Brent slightly below $64 per barrel with WTI balancing on the edge of the $60 per barrel threshold. Should the weekend bring an OPEC+ surprise of a bigger-than-expected unwinding, the downslide could very well continue in the first week of June.OPEC+ Wants to Shock the Oil Market Even More. Whilst oil markets are more or…
Welcome to Leadership Lessons — real stories from supply chain leaders on how they built their careers, what they’ve learned along the way, and where they’re headed next. In this edition, we talk with Kamal Ahluwalia, Chief Executive Officer at Resilinc. He opens up about the early days of Apple, adopting Navy SEAL-inspired leadership principles, and why he’s all in on building an AI-first company for the supply chain world. What’s RelatedSupply Chain 24/7: Thanks for joining me. Can you share a bit about your upbringing? Kamal Ahluwalia: I grew up in India and was the youngest of three siblings. My…
US President Donald Trump said early on Friday (US time) that China had violated the agreement it reached on tariffs with US officials in Geneva several weeks ago. “China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr NICE GUY!,” Trump said in a post on his Truth Social platform. Trump did not specify what China had done – or failed to do, but US Treasury Secretary Scott Bessent told Fox News on Thursday that trade talks with China were “a bit stalled” and said getting a deal over the finish…
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 2.8 million barrels from the week ending May 16 to the week ending May 23, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. This report was released on May 29 and included data for the week ending May 23. It showed that crude oil stocks, not including the SPR, stood at 440.4 million barrels on May 23, 443.2 million barrels on May 16, and 454.7 million barrels on May 24, 2024. Crude oil in the SPR stood at 401.3…
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Avangrid Inc. has announced five projects with a total investment of $41 million to install additional capacity and improve the reliability of the power grid in Ithaca, New York. The projects are part of a $20 billion investment through 2030 that Avangrid, part of Spain’s power and gas utility Iberdrola SA, announced earlier this year to contribute to United States grid modernization and expansion. Avangrid expects the Ithaca projects to benefit over 42,000 customers of New York State Electric & Gas, an Avangrid unit that operates about 35,000 miles of electric distribution lines and 4,500 miles of electric transmission lines across…
Major Biofuel Milestone: Moeve’s largest marine biofuel supply deal to date—40,000 tons—will support maritime decarbonization in the Canary Islands through 2025. First in Region: Marks Moeve’s first renewable fuel delivery in the Canary Islands, reinforcing its leadership in Spain’s green maritime fuel market. Immediate Emission Impact: 2G biofuels can cut lifecycle CO₂ emissions by up to 90% and require no infrastructure upgrades. Moeve has signed a landmark agreement with Grupo Armas Trasmediterránea to supply 40,000 tons of second-generation (2G) marine biofuels through the end of 2025. The long-term contract, with extension potential into 2026, represents Moeve’s largest biofuel delivery to…
OPEC+ is considering accelerating its production increases by discussing a potential hike of more than 411,000 barrels a day for July as it seeks to recoup lost market share, according to people familiar with the matter. Eight key members of the Organization of the Petroleum Exporting Countries and its partners, led by Saudi Arabia, are due to hold a video conference on Saturday to discuss output policy. Their last two calls resulted in super-sized production increases that drove down prices, and the cartel may go even further this time, the people said. Some delegates among the eight nations said they…
Company-wide transition plans will now drive financing decisions, enabling more strategic, long-term support for high-emitting and transition-enabling sectors. New risk assessment methodology allows Danske Bank to fund companies classified as transitioned, transitioning, or starting transition, improving capital alignment with credible climate strategies. The broader financing approach may increase short-term emissions, but aims to accelerate systemic climate impact across the Nordic corporate landscape. Danske Bank is redefining how it supports the climate transition—broadening its approach to finance entire company transitions rather than just isolated green projects. “By evaluating transition plans at the company level, we will be better equipped to support…